All of my GMI and GMI-2 components are positive. JCI reported record earnings and had a large volume green line break-out on Tuesday. Check out its daily chart.
Dr. Wish
12rth day of QQQ short term up-trend; TSLA head and shoulders top?
Is TSLA forming a head and shoulders top? Check out this daily chart. TSLA may be on the neckline. A penetration could lead to a sharp sell-off.
This daily GMMA chart shows that the RWB pattern is gone, with the shorter averages (red) about to cross below the longer averages (blue).
11th day of QQQ short term up-trend; gold turning up?; EHTH gains strength and WYNN retests green line; GMI buy signal leads to large gains
The market remains in short and longer term up-trends. I hold a position in TQQQ , protected by put options. This should be an interesting week with earnings expected from AAPL and FB. I think GLD (ETF for gold) looks like it may be turning up. Check out this daily chart. Among the positives are that GLD is now back above its 30 day average (red solid line), the past 7 days have had large volume up days, and the MACD histogram has turned positive (black bars) the past 6 days. I own call options on GLD. Click on chart to enlarge.
I noticed that EHTH has been having some high volume advances after its recent green line break-out. Obamacare’s problems may be good for its bottom line. Check out this daily chart. T o find out more about green line charts, watch my free TC2000 December 2012 webinar. A link to the webinar appears to the right of my post.
On Friday, WYNN had a high volume retest of its green line break-out. Will it hold? Here is its daily chart.
Finally, here is the GMI table, which shows a lot of strength in my indicators. The GMI has been on a buy signal since the close on September 4. Since then, the QQQ has advanced +8.07%, the QLD +17% and the TQQQ +25.92%. In contrast, the SPY has advanced only +6.15% and the DIA +4.2%. Riding a leveraged index ETF during a sustained up-trend has proven very profitable to me. Of course, my put options protect my position and let me sleep at night. Check out the performance of the GMI based strategy here.
